For his followers, Gill is responsible for bringing about a major victory, and some respect to a class of investors who, like GameStop, have been underestimated
Corporate America Not Likely To Unwind COVID-19 Debt Buildup Despite Credit Hits
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Infrastructure Issues: Tools to Dig Deep on Potential Risks
Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools
29 Jan, 2021 Author Hailey Ross
It was a busy week for insurance stocks as earnings season started in earnest, two sizable deals in the life space were announced, and amateur traders threw the broader markets into a short-squeezing feeding frenzy.
The S&P 500 endured some significant swings for the week ending Jan. 29, and ended up falling 3.31% to 3,714.24. The SNL U.S. Insurance Index dropped 3.65% to 1,164.98.
Early in the week, Allstate Corp. agreed to sell Allstate Life Insurance Co. and certain subsidiaries to entities managed by Blackstone Group Inc. for $2.8 billion. A day later, American Financial Group Inc. said it entered into a definitive agreement to sell its annuity business to Massachusetts Mutual Life Insur
State funds see direct-lending partnerships as growth engine
International Forum of Sovereign Wealth Funds’ Victoria Barbary
Direct lending partnerships between sovereign wealth funds and money managers are becoming a neat way for state-owned pools of capital to gain access to direct lending opportunities and maintain exposure to regions where public markets look expensive.
Committing capital to private markets strategies is nothing new for sovereign wealth funds, but the structure of three deals last year are particularly interesting, sources said.
In September, the $232.2 billion fund Mubadala Investment Co., Abu Dhabi, partnered with Barings LLC to provide financing to European middle-market businesses through the Barings Mubadala Enterprise.
UpdatedFri, Jan 29, 2021 at 3:23 pm ET
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Gamestop stock is up more than 1,500 percent this year to date, as of 1:30 p.m. Friday. (Shutterstock)
WILMINGTON, MA The YouTube and Reddit user who was in large part responsible for the recent Gamestop stock craze is a Wilmington father and former MassMutual employee, the Wall Street Journal reported in an interview with him Friday.
Keith Gill, 34, is known on YouTube as Roaring Kitty and on Reddit by the expletive-laced handle DeepF -Value. Wilmington Patch has reached out to Gill for comment and will update this story when we hear back from him.
Until recently, Gill worked in marketing for Massachusetts Mutual Life Insurance Co. He has a 2-year-old daughter and films his popular YouTube cases for the stock from his Wilmington basement so as to not wake her up, the Journal reported.
Massachusetts Mutual Life Insurance Co. announced Wednesday it has reached agreement to acquire Great American Life Insurance Co. and other subsidiaries and affiliated entities, which primarily offer traditional fixed and fixed indexed annuity products.
The purchase price is $3.5 billion, subject to adjustment at closing. The transaction is expected to close in the second quarter of 2021, subject to regulatory and other necessary approvals. Upon the close of the transaction, Great American Life will operate as an independent subsidiary of MassMutual.
Great American Life is a highly respected leader in the annuity market, known for its competitive product suite, excellent customer service, and deep distribution relationships with banks, independent agents, and independent broker-dealers, MassMutual said in a news release.